Nanjing lifts all restrictions on home selling, adds perks for buyers

Nanjing has removed all restrictions on home selling as the city puts forward a series of measures to stabilize the property market.

In this latest move, all restrictions on the transfer of residential properties have been lifted across the city, which means homes can be listed for sale once property ownership certificates are obtained, the municipal government said on Monday.

Nanjing has also set aside 100 million yuan (HK$107 million) for a housing “trade-in” program, wherein the government will provide subsidies worth 1 percent of the contract amount for newly built homes listed in the scheme to buyers who recently sold their homes.

Moreover, the capital city of Jiangsu province has implemented a “family-wide” housing provident fund policy.

Under this policy, the parents and children of homebuyers, if eligible, can also apply to withdraw from their housing provident funds to pay for home purchases. Previously, only the buyer and their spouse were allowed to use their provident funds for down payments.

STAFF REPORTER